Term used in Lima to indicate that a person or something is in very bad shape. The designation originated from old transportation buses, in very bad condition that had that community as a final destination. The buses had the term "Cocharcas" shown prominently, so the term became widely used. As it turns out the intermediate destinations where also popular so there were a large number of users. In bad shape, falling apart, in need of maintenance, old and ready to expire .
Used in US as well
"In Spanish: "Ya estas Cocharcas" which literally means "You are in very bad shape""